And now it’s time to prepare PrefLetter!
| HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly |
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| Index | Mean Current Yield (at bid) |
Median YTW |
Median Average Trading Value |
Median Mod Dur (YTW) |
Issues | Day’s Perf. | Index Value |
| Ratchet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -1.3151 % | 1,873.0 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -1.3151 % | 3,436.9 |
| Floater | 4.57 % | 4.61 % | 63,740 | 16.11 | 2 | -1.3151 % | 1,980.7 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.0545 % | 3,607.3 |
| SplitShare | 4.80 % | 4.44 % | 46,350 | 3.84 | 9 | -0.0545 % | 4,307.9 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.0545 % | 3,361.2 |
| Perpetual-Premium | 5.32 % | 3.18 % | 79,213 | 0.09 | 19 | -0.1275 % | 3,200.6 |
| Perpetual-Discount | 4.97 % | 5.05 % | 79,702 | 15.36 | 12 | -0.6041 % | 3,684.0 |
| FixedReset Disc | 5.02 % | 3.90 % | 149,230 | 17.20 | 56 | -0.6191 % | 2,318.6 |
| Insurance Straight | 5.00 % | 4.57 % | 88,544 | 4.00 | 22 | -0.4384 % | 3,593.0 |
| FloatingReset | 1.96 % | 1.88 % | 47,484 | 1.13 | 3 | 0.3442 % | 1,857.6 |
| FixedReset Prem | 5.16 % | 3.28 % | 217,630 | 0.81 | 22 | -0.1877 % | 2,672.5 |
| FixedReset Bank Non | 1.94 % | 1.82 % | 192,907 | 1.12 | 2 | 0.0000 % | 2,876.3 |
| FixedReset Ins Non | 5.04 % | 3.84 % | 85,463 | 17.37 | 22 | -0.2938 % | 2,422.9 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| BAM.PR.T | FixedReset Disc | -4.98 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 14.70 Evaluated at bid price : 14.70 Bid-YTW : 4.85 % |
| CU.PR.F | Perpetual-Discount | -4.37 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 22.98 Evaluated at bid price : 23.40 Bid-YTW : 4.82 % |
| CM.PR.O | FixedReset Disc | -3.03 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 19.17 Evaluated at bid price : 19.17 Bid-YTW : 3.88 % |
| NA.PR.G | FixedReset Disc | -2.59 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 21.49 Evaluated at bid price : 21.85 Bid-YTW : 3.97 % |
| IAF.PR.G | FixedReset Ins Non | -2.36 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 20.30 Evaluated at bid price : 20.30 Bid-YTW : 4.09 % |
| MFC.PR.G | FixedReset Ins Non | -2.17 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 21.32 Evaluated at bid price : 21.60 Bid-YTW : 3.87 % |
| BAM.PR.K | Floater | -2.10 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 9.33 Evaluated at bid price : 9.33 Bid-YTW : 4.66 % |
| NA.PR.W | FixedReset Disc | -2.08 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 18.85 Evaluated at bid price : 18.85 Bid-YTW : 3.91 % |
| BIP.PR.A | FixedReset Disc | -1.81 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 19.00 Evaluated at bid price : 19.00 Bid-YTW : 5.26 % |
| BIP.PR.D | FixedReset Disc | -1.67 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 23.65 Evaluated at bid price : 24.10 Bid-YTW : 5.18 % |
| BMO.PR.W | FixedReset Disc | -1.58 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 19.89 Evaluated at bid price : 19.89 Bid-YTW : 3.65 % |
| MFC.PR.C | Insurance Straight | -1.58 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 24.10 Evaluated at bid price : 24.36 Bid-YTW : 4.62 % |
| SLF.PR.C | Insurance Straight | -1.49 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 24.21 Evaluated at bid price : 24.50 Bid-YTW : 4.53 % |
| NA.PR.E | FixedReset Disc | -1.43 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 20.70 Evaluated at bid price : 20.70 Bid-YTW : 3.90 % |
| TRP.PR.E | FixedReset Disc | -1.43 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 15.20 Evaluated at bid price : 15.20 Bid-YTW : 4.99 % |
| MFC.PR.H | FixedReset Ins Non | -1.30 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 23.02 Evaluated at bid price : 23.50 Bid-YTW : 3.81 % |
| SLF.PR.G | FixedReset Ins Non | -1.25 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 11.85 Evaluated at bid price : 11.85 Bid-YTW : 3.88 % |
| TRP.PR.D | FixedReset Disc | -1.22 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 15.43 Evaluated at bid price : 15.43 Bid-YTW : 4.96 % |
| MFC.PR.M | FixedReset Ins Non | -1.21 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 19.60 Evaluated at bid price : 19.60 Bid-YTW : 3.83 % |
| TD.PF.B | FixedReset Disc | -1.14 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 20.03 Evaluated at bid price : 20.03 Bid-YTW : 3.63 % |
| IFC.PR.E | Insurance Straight | -1.08 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2025-06-30 Maturity Price : 25.25 Evaluated at bid price : 25.61 Bid-YTW : 5.08 % |
| GWO.PR.S | Insurance Straight | -1.06 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2023-06-30 Maturity Price : 25.00 Evaluated at bid price : 25.10 Bid-YTW : 5.00 % |
| TRP.PR.C | FixedReset Disc | -1.05 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 10.40 Evaluated at bid price : 10.40 Bid-YTW : 4.80 % |
| MFC.PR.N | FixedReset Ins Non | -1.03 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 19.15 Evaluated at bid price : 19.15 Bid-YTW : 3.84 % |
| BIP.PR.B | FixedReset Prem | -1.03 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2021-01-30 Maturity Price : 25.00 Evaluated at bid price : 25.10 Bid-YTW : 0.38 % |
| TD.PF.J | FixedReset Disc | -1.02 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 22.01 Evaluated at bid price : 22.27 Bid-YTW : 3.75 % |
| IFC.PR.F | Insurance Straight | -1.01 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2025-09-30 Maturity Price : 25.25 Evaluated at bid price : 25.53 Bid-YTW : 5.26 % |
| MFC.PR.F | FixedReset Ins Non | 1.08 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 12.22 Evaluated at bid price : 12.22 Bid-YTW : 3.79 % |
| IFC.PR.C | FixedReset Ins Non | 1.27 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 20.00 Evaluated at bid price : 20.00 Bid-YTW : 3.94 % |
| RY.PR.M | FixedReset Disc | 1.27 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 20.70 Evaluated at bid price : 20.70 Bid-YTW : 3.70 % |
| BAM.PF.J | FixedReset Disc | 1.31 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2022-12-31 Maturity Price : 25.00 Evaluated at bid price : 25.45 Bid-YTW : 4.33 % |
| GWO.PR.R | Insurance Straight | 1.50 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2021-12-31 Maturity Price : 25.00 Evaluated at bid price : 25.00 Bid-YTW : 4.57 % |
| TRP.PR.F | FloatingReset | 1.88 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 11.41 Evaluated at bid price : 11.41 Bid-YTW : 4.49 % |
| IFC.PR.A | FixedReset Ins Non | 2.21 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 15.23 Evaluated at bid price : 15.23 Bid-YTW : 3.81 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| SLF.PR.H | FixedReset Ins Non | 150,800 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 17.63 Evaluated at bid price : 17.63 Bid-YTW : 3.70 % |
| TD.PF.B | FixedReset Disc | 109,568 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 20.03 Evaluated at bid price : 20.03 Bid-YTW : 3.63 % |
| BMO.PR.C | FixedReset Disc | 109,125 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 24.14 Evaluated at bid price : 24.50 Bid-YTW : 3.89 % |
| RY.PR.M | FixedReset Disc | 101,900 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 20.70 Evaluated at bid price : 20.70 Bid-YTW : 3.70 % |
| BMO.PR.T | FixedReset Disc | 50,190 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 19.55 Evaluated at bid price : 19.55 Bid-YTW : 3.66 % |
| SLF.PR.A | Insurance Straight | 40,850 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-11 Maturity Price : 24.60 Evaluated at bid price : 24.86 Bid-YTW : 4.77 % |
| There were 28 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| BAM.PR.T | FixedReset Disc | Quote: 14.70 – 15.63 Spot Rate : 0.9300 Average : 0.5725 YTW SCENARIO |
| CU.PR.F | Perpetual-Discount | Quote: 23.40 – 24.55 Spot Rate : 1.1500 Average : 0.8065 YTW SCENARIO |
| CM.PR.O | FixedReset Disc | Quote: 19.17 – 19.80 Spot Rate : 0.6300 Average : 0.3802 YTW SCENARIO |
| MFC.PR.G | FixedReset Ins Non | Quote: 21.60 – 22.20 Spot Rate : 0.6000 Average : 0.3693 YTW SCENARIO |
| IAF.PR.G | FixedReset Ins Non | Quote: 20.30 – 20.99 Spot Rate : 0.6900 Average : 0.4815 YTW SCENARIO |
| RY.PR.J | FixedReset Disc | Quote: 21.50 – 22.00 Spot Rate : 0.5000 Average : 0.2970 YTW SCENARIO |